After the accounts have been adjusted at October 31, the end of the fiscal year, the following… 1 answer below »
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After the accounts have been adjusted at October 31, the end of the fiscal year, the following
balances were taken from the ledger of Smart Delivery Services Co.:
Retained Earnings $3,550,000
Dividends 40,000
Fees Earned 1,145,000
Wages Expense 740,000
Rent Expense 65,000
Supplies Expense 14,750
Miscellaneous Expense 8,800
Journalize the four entries required to close the accounts. Refer to the Chart of Accounts for
exact wording of account titles.
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